Eldar Garibov Buys Shares of UniBank from Jalal Gasimov

Baku Stock Exchange released information on insider transaction of preferred shares of JSC Commercial Bank UniBank. This is the first such information in the past year and a half.

According to this information, at the beginning of June this year, the chairman of the Supervisory Board of the bank Eldar Garibov bought 183,825 shares of preferred stock at a price 2.91 manat with nominal value of 2.72 manat.

It should be noted that the sell-side transaction was not disclosed. However, we know that it is the number of shares acquired in September 2013 by Jalal Gasimov, the then executive director of UniBank. In May this year he was appointed Head of Banking Group Ltd. in Pasha Holding, as well as chairman of the Supervisory Board of OJSC Capital Bank (a member of Pasha Holding). The deal for the sale of shares was concluded after the start of the duties of Jamal Gasimov in Capital Bank.

It should be noted that prior to this deal Eldar Garibov owned 68.34% by ordinary and preference shares of UniBank.

The shareholders of UniBank consist of the European Bank for Reconstruction and Development (EBRD) – 15.15%, the German Investment Corporation (DEG) – 8.33%, as well as other local and foreign individuals and legal entities.

Total outstanding are 20,796,000 ordinary shares and 5,147,100 preference shares. The paid authorized capital of the bank is 70.5 million manats. ------08B